Macy’s, Inc. (NYSE:M) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its holdings in Macy’s, Inc. (NYSE:M) by 38.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,248 shares of the company’s stock after selling 24,787 shares during the quarter. Penserra Capital Management LLC’s holdings in Macy’s were worth $631,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Quest Partners LLC purchased a new position in Macy’s during the third quarter valued at $35,000. Venturi Wealth Management LLC lifted its stake in Macy’s by 282.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,281 shares of the company’s stock valued at $36,000 after buying an additional 1,685 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Macy’s in the 3rd quarter worth about $39,000. Abich Financial Wealth Management LLC purchased a new stake in Macy’s during the 2nd quarter worth approximately $57,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Macy’s during the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 87.36% of the company’s stock.

Macy’s Price Performance

Macy’s stock opened at $15.96 on Thursday. The company has a current ratio of 1.48, a quick ratio of 0.34 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $15.49 and a 200 day moving average price of $16.76. Macy’s, Inc. has a 12-month low of $14.06 and a 12-month high of $22.10. The stock has a market cap of $4.43 billion, a P/E ratio of 24.94 and a beta of 2.11.

Macy’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.1737 per share. The ex-dividend date is Friday, December 13th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 4.35%. Macy’s’s dividend payout ratio is currently 107.81%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on M. Argus raised Macy’s to a “hold” rating in a research note on Thursday, October 10th. StockNews.com raised shares of Macy’s from a “hold” rating to a “buy” rating in a report on Wednesday. Morgan Stanley decreased their price target on shares of Macy’s from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 22nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price objective on shares of Macy’s in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.86.

Macy’s Profile

Macy's, Inc, an omni-channel retail organization, operates stores, websites, and mobile applications in the United States. The company sells a range of merchandise, such as apparel and accessories for men, women, and kids; cosmetics; home furnishings; and other consumer goods under the Macy's, Bloomingdale's, and bluemercury brands.